Hyprop Investments : PRE-CLOSE PRESENTATION 2023

Pre-Close

Operational Update

five months ended 31 May 2023

Highlights

Good progress towards strategic initiatives

Group

• MSCI ESG Rating upgraded from A to AA
• Successfully raised R1 billion via a bond auction
  - 2.25 times oversubscribed
• Successfully refinanced €255 million of Euro dominated facilities
• Maintained LTV below 37.5%
• R1.9 billion of undrawn facilities

South Africa

• Trading performance continued to improve steadily
• Upgraded 4 Pick n Pay stores
• • CapeGate (full upgrade)
  • Hyde Park Corner (minor upgrade)
  • Clearwater Mall (90% complete)
  • Rosebank Mall (90% complete)
• New Checkers Fresh X and mini-food court on track at Somerset Mall - planned opening November 2023
• Nooka - flexible office spaces opened at Somerset Mall
• Completed further solar-PV installations at Clearwater, Woodlands and Rosebank

Eastern Europe

• Solid trading performance across the portfolio
• Replaced two Inditex brands at The Mall in Sofia with Sinsay and Intersport
• Simplifying the offshore structures

		Sub-Saharan Africa			Non-Tangible Assets
•	Secured USD8.5		•	SOKO physical
	million in Nigeria and			district's operational
	settled Ikeja City			performance
	Mall's senior loan			continues to improve
	interest payments			under Rosebank
•	Amended deal			Mall's management
	with Actis on Ikeja		•	SOKO digital
	under discussion			platform undergoing
• Ikeja City Mall - fully			enhancements to
		enable multiple
	let and recorded 21%
			functionalities -
	decline in arrears
			currently being
	year-to-date
			piloted with
•	Progress on re-letting			3rd parties
	ex-Game space in
	Ghana

2

Operational performance

South Africa

Clearwater Mall, Johannesburg

New tenants

South Africa

Rosebank Mall

Rosebank Mall

Clearwater Mall

Clearwater Mall

Somerset Mall

CapeGate

Canal Walk

Woodlands

The Glen

The Glen

4

Operational performance metrics

South Africa - 12 months ended May 2023

Other Metrics

10 000 000 000

1 000 000 000

100 000 000

10 000 000

1 000 000

100 000

80 000

60 000

40 000

20 000

0

12.2%					14.0%
	11.4%
	11.2%			12.0%
			9.9%
				8.9%	10.0%
				13.4%	8.0%
1.2%	(9.5%)	(1.6%)	13.6%	6.0%
					4.0%	Ratio
					2.0%
					Effort
					0.0%
(1.3%)	(10.6%	(12.4%)	7.0%	5.3%
(0.1%)	(2.8%)	(5.4%)	10.2%	12.3%

(0.9%)	(11.2%)	(7.6%)	7.5%	7.2%
2018/2019	2019/2020	2020/2021	2021/2022	2022/2023

Foot Count ('000)		Annualised Trading Density (R)		Vehicle Count ('000)		Effort Ratio (%)		Turnover (R'00)
								5